BAE Systems wants to buy stakes in Saudi companies as it gears up to deliver Eurofighter typhoon jets to the kingdom.
Europe's biggest defence contractor is boosting its presence in the kingdom as it seeks to capture a bigger slice of regional military spending in the wake of the Arab Spring.
"We are bringing tasks that used to be done somewhere else to Saudi Arabia. We are increasing the footprint in terms of sustainment, said Jim McDowell, managing director BAE Systems Saudi Arabia on the sidelines of the Global Competitiveness Forum in Saudi Arabia. "We are buying interests in local companies in order that we can grow in adjacent markets."
Mr McDowell said he did not have a precise delivery schedule for an of 72 Eurofighter Typhoon jets.
"They are being assembled now... let's say in the next couple of years," he said.
Earlier this month, BAE Systems said that talks with the kingdom over changes to its order for 72 Eurofighter Typhoon jets would continue into 2012 and could hit profits.
"The proposed changes relate to final assembly of the last 48 of the 72 Typhoon aircraft, the creation of a maintenance and upgrade facility in the Kingdom of Saudi Arabia, BAE Systems said in a January 04 statement.